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Dan Gold Explains QVT’s October Losses in Memorable Letter

In his latest letter to investors, the manager expresses disappointment over his performance, explains why he thinks his fund did worse than it should have and offers a colorful caveat.

Daniel Gold’s QVT Onshore, managed by his New York-based hedge fund firm, QVT Financial, took a beating in the first half of October — and the manager is plenty mad about it. In a letter fired off to clients and dated October 17, the onetime Deutsche Bank trader points out

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